Global Hand Tools and Accessories Industry Report 2024-2030: Multitasking Hand Tools Grow in Prominence - U.S. Market is Estimated at $5.2 Billion, While China is Forecast to Grow at 6.8% CAGR

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Feb 19, 2024, 10:30 ET

DUBLIN, Feb. 19, 2024 /PRNewswire/ -- The "Hand Tools and Accessories - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Hand Tools and Accessories Market to Reach $29.2 Billion by 2030

The global market for Hand Tools and Accessories estimated at US$20 Billion in the year 2022, is projected to reach a revised size of US$29.2 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2022-2030. Mechanics` Service Tools, one of the segments analyzed in the report, is projected to record a 4.9% CAGR and reach US$14.5 Billion by the end of the analysis period. Growth in the Edge Tools segment is estimated at 5.5% CAGR for the next 8-year period.

The U.S. Market is Estimated at $5.2 Billion, While China is Forecast to Grow at 6.8% CAGR

The Hand Tools and Accessories market in the U.S. is estimated at US$5.2 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$3.7 Billion by the year 2030 trailing a CAGR of 6.8% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.3% and 4.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.6% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$4.4 Billion by the year 2030.

What`s New?

Special discussions on the global economic climate and market sentiment
Coverage on global competitiveness and key competitor percentage market shares
Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and research platform
Complimentary updates for one year
Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET OVERVIEW

Influencer Market Insights
World Market Trajectories
Tools Industry: An Evolutionary Scan
Hand Tools Continue to be Relevant in the Modern Mechanical Era
Hand Tools & Accessories: Product Profile
Mechanics' Service Tools
Edge Tools
Other Hand Tools & Accessories
COVID-19 Impact on the Hand Tools Market
Global Market Outlook
Latest Trends Augmenting Demand for Hand Tools & Accessories
Segment Analysis
Developing Markets to Spearhead Future Growth
Competition
Competitive Market Presence - Strong/Active/Niche for Players Worldwide in 2023 (E)
Recent Market Activity

MARKET TRENDS & DRIVERS

Trends & Developments Setting the Power Play Momentum for Hand Tools & Accessories
Occupational Ergonomics: The Primary Factor Driving Innovation in the Hand Tools Market
Multitasking Hand Tools Grow in Prominence
Focus on Productivity in Lightweight Manufacturing to Spur Demand for Intelligently Designed Hand tools
Broadening Horizons of Hand Tool Innovation Entail Exciting Future of Hand Tools
Hand Tools Hold the Upper Hand Stance with Awe-Inspiring Innovations
Companies Keep Afloat with Product Innovations
Non-Magnetic and Non-Sparking Hand tools Make Perfect Sense for High Energy and Electrical Component Applications
Market Set to Benefit from Advances in Hand Tools' Production Technology
Hand Tools Continue to Find Use in Industrial Applications
Machinery Maintenance & Heavy Equipment Repair Supports Demand for Mechanic's Service Tools in the Industrial Sector
Automotive Repair & Maintenance Services Demand Determines Growth in Vehicle Mechanics Tools Market
Advances in Specialty Tools for Automotive Industry
Aircraft MRO: A Major Market for Aviation General Mechanic's Tools
Construction Industry Trends Determine Demand for Tools Used by Construction Workers
DIY Home Improvement, Gardening and Landscaping: Potential for Growth in the Hand tools Market
Household and DIY Hand Tools Market Poised for Robust Growth
Commercial Carpentry: Hand Tools Face Stiff Challenge from Power Tools
HVAC Tools Trends towards Technological Sophistication for Better Functions
Insulated Hand Tools: An Imperative Arsenal of a Well-Equipped Toolbox for Electrical Work
Primary Advantages of Insulated Hand Tools
Role of Insulated Hand Tools in Electrical Safety
Testing & Certification for Insulated Hand Tools
An Insight into Metalworking Hand Tools Market
Intelligent CAD Technology Enables the Development of Ergonomically Designed Hand Tools
Materials Used in Manufacture of Hand Tools - An Overview
E-Retailing Expands Growth Opportunities
Competition from Power Tools: A Market Dampener

FOCUS ON SELECT PLAYERS (Total 261 Featured)

Kennametal, Inc.
Lenox Corporation
Malco Products, Inc.
Apex Tool Group LLC
Channellock, Inc.
Gedore UK
General Tools & Instruments LLC
Great Neck Saw
J.K. Files (India) Ltd.
Lowe`s Companies, Inc.
Aimco Global
Central Tools, Inc.
Harbor Freight Tools
3d Signals
Cromwell Group (Holdings) Limited

For more information about this report visit https://www.researchandmarkets.com/r/fy4pfj

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